Brokerages Expect AK Steel Holding Co. (AKS) Will Announce Quarterly Sales of $1.51 Billion

Wall Street analysts forecast that AK Steel Holding Co. (NYSE:AKS) will report sales of $1.51 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for AK Steel’s earnings, with estimates ranging from $1.43 billion to $1.59 billion. AK Steel reported sales of $1.53 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that AK Steel will report full-year sales of $1.51 billion for the current year, with estimates ranging from $6.17 billion to $6.68 billion. For the next year, analysts expect that the company will post sales of $6.71 billion per share, with estimates ranging from $6.56 billion to $6.80 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for AK Steel.

AK Steel (NYSE:AKS) last posted its quarterly earnings data on Tuesday, January 30th. The basic materials company reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.07. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. AK Steel had a net margin of 0.16% and a return on equity of 71.24%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share.

A number of equities analysts have weighed in on the stock. Credit Suisse Group upgraded shares of AK Steel from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $6.00 to $7.00 in a research report on Tuesday, November 21st. Jefferies Group restated a “buy” rating on shares of AK Steel in a research report on Friday, November 10th. BMO Capital Markets reduced their price objective on shares of AK Steel from $7.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, November 1st. JPMorgan Chase & Co. upgraded shares of AK Steel from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $6.00 to $7.00 in a research report on Thursday, December 7th. Finally, Clarkson Capital cut shares of AK Steel from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. AK Steel has a consensus rating of “Hold” and an average target price of $6.88.

Several institutional investors have recently added to or reduced their stakes in AKS. State of New Jersey Common Pension Fund D purchased a new stake in shares of AK Steel during the third quarter worth $81,614,000. Millennium Management LLC grew its holdings in shares of AK Steel by 189.0% in the fourth quarter. Millennium Management LLC now owns 3,362,383 shares of the basic materials company’s stock valued at $19,031,000 after purchasing an additional 2,198,798 shares during the period. Shellback Capital LP purchased a new stake in shares of AK Steel in the fourth quarter valued at about $6,816,000. Masters Capital Management LLC purchased a new stake in shares of AK Steel in the fourth quarter valued at about $5,660,000. Finally, Creative Planning grew its holdings in shares of AK Steel by 66.7% in the fourth quarter. Creative Planning now owns 2,327,366 shares of the basic materials company’s stock valued at $13,173,000 after purchasing an additional 931,560 shares during the period. 67.79% of the stock is owned by institutional investors and hedge funds.

AK Steel (AKS) traded down $0.12 during trading hours on Friday, reaching $5.50. 12,950,000 shares of the company’s stock were exchanged, compared to its average volume of 23,740,000. The company has a debt-to-equity ratio of 16.33, a current ratio of 1.83 and a quick ratio of 0.69. The firm has a market capitalization of $1,730.00, a PE ratio of 50.00, a PEG ratio of 2.14 and a beta of 2.87. AK Steel has a 52 week low of $4.00 and a 52 week high of $8.94.

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AK Steel Company Profile

AK Steel Holding Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products through its subsidiary, AK Steel Corporation (AK Steel). The Company also operates blast furnaces and electric arc furnaces. As of December 31, 2016, its operations included eight steelmaking and finishing plants, two coke plants and two tube manufacturing plants across states, including Indiana, Kentucky, Michigan, Ohio, Pennsylvania and West Virginia, and a tube manufacturing plant in Mexico.

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